Tuesday, June 22, 2010

India Innovation Summit- Day-2 Session-VI

The last session for the day was themed around: Good Practices on Making Innovation Happen.
The discussion was moderated by Naveen Kulkarni (Director- BD and Research Asia, Philips), on deliberation on some of the good practices of managing an innovation program. On the panel were: Anil Menon (President, Globalization and Smarket Connected Communities, Cisco), Pickhard Friedhelm (MD, Robert Bosch Engg and Biz Soln'), and Prof. Rishikesha T Krishnan (IIM Bangalore).
Anil shared that at Cicso, with over 160 acquisitions done, 90% employees are retained and they look for talent in an acquisition and are very selective while doing so. He further opined that having a good competition makes you better. Creativity is often emotionally taxing and the reason large firms' aren't often innovative is that they are designed to survive shocks, have more to loose, and hence resist change. Their tendencies to slap confidentiality on everything and to keep filing patents without knowing good from bad is not always appropriate. At Cisco they don't spend too much time on making strategies, they start first and then if it succeeds, they make plans to scale. He summed it up well by saying that success is your degree of freedom which comes from what all you have tried (and failed at). Don't fear failure.
Prof. Krishnan picked three instances from India, viz: Tata Ace, Bajaj Pulsar and M&M Shaan. He said that innovation models in india are a mix of- top down, tech + biz confluence and need an ability to manage complex projects. He picked from AG Lafley (Former CEO of P&G)- "do the last experiment first", ie- Know what's not working early. Further the best way to make innovation work is influencing stakeholder systematically.
Pickard from Bosch defined innovation as something which is new as well successful. Pickard proposed that engineers are good at problem solving, don't ask them to identify problems, give them problems to solve. On a question on industry- academia relationship, he said that industry expects basic skills from students and rest gets developed on the job.
Naveen did a fantastic job in moderating the panel discussion and engaging the audience in Q&A session. Sighting instances from Philips India, he stated the role of de-centralized operations in managing an innovation program and the methodical Stage Gate approach.
The session followed by the valedictory session.
Two wonderful days, full of insight got over. I draw a lot of learning from these days and believe the same for you.
Take care and do share your comments.

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